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Retirement tax questions
You see, when you are entering your IRA contribution amount, you will get to this screen as follows
So as per the instructions, the only way you would be allowed the scholarship income to qualify and allow for the IRA contribution deduction is only if the taxable scholarship was for Graduate or Post-Doctoral studies. Once I enter the 6,000 into that box, then this is what consequently happens
It allows for the income to be recognized to allow for the IRA deduction.
Check this out and see if this works for you as well.
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‎April 4, 2023
1:00 PM